Markets & Finance

Tech Stocks Pull Down Canada Market

January 28, 2002

Canada's benchmark TSE 300 plunged 76.59 points, or 1%, to 7,667.70, led by tech and oil and gas stocks. The gold and precious minerals and conglomerates rose. The U.S. consumer

report for December rose to a 4-month high of 97.3. But the report could not clear some of the road blocks hindering a more sustainable rally in the stock market. Market breadth is negative with the number of losers outpacing winners by a margin of 159-117.

European markets finished lower in late-session trading as the U.S. stock market weakened. Earlier, the markets there were mixed amid profit-taking in oil stocks and disappointing financial updates from France Telecom and its Orange cell-phone unit. In London, the Financial Times-Stock Exchange 100 index ended off 92.20 points, or 1.77%, to 5,131.40. In France, the Paris CAC 40 finished down 65.06 points, or 1.43%, to 4,476.10. Germany's DAX index stumbled 74.50 points, or 1.44%, to 5,084.52.